商业银行监管的国际比较:模式及影响——兼论中国的商业银行监管模式选择

Banking Regulation around the World:Patterns and Impact

本文系统研究了世界上 1 1 8个国家 (地区 )的商业银行监管模式及其对金融发展水平的影响。基于以下四种维度的不同组合 :1 )政府拥有银行的程度 ;2 )政府直接监管银行的力度 ;3 )政府授权非政府机构进行监管的力度 ;4)明确的存款保险制度涵盖范围 ,我们把世界各国 (地区 )的商业银行监管模式划分为三大类 :1 )印度 -中国型 ;2 )南非-菲律宾 -墨西哥型 ;3 )德国 -美国 -瑞士 -法国型。比较不同的监管模式 ,在促进金融业发展方面 ,德国 -美国 -瑞士 -法国型的监管模式最佳 ,南非 -菲律宾 -墨西哥型次之 ,而印度 -中国型最差。比较中国的商业银行监管模式与世界平均水平以及德国和美国的差异 ,结果显示了中国过多的对政府拥有银行和直接的事先监管的依赖。

The paper empirically investigates the patterns and impact of banking regulation on overall financial development in 118 countries around the world.Based on four dimensions, we identify three major different patterns of banking regulation around the world: 1) the India-China type featured by dominant government ownership; 2) the South Africa-Philippines-Mexico type characterized by dominant use of government direct regulation, and 3) the Germany-US-Switzerland-France type characterized by dominant use of government empowerment. Regressions show that the level of overall financial development is negatively correlated with the extent of government ownership and some specific measures of direct regulations of banks.In promoting overall financial development, the Germany-US-Switzerland-France type is the most preferable, and the South Africa-Philippines-Mexico one lies in between, while the India-China one is the least preferable.Policy suggestions from our findings are: 1) developing private banks; 2) maintaining the independence of regulatory agencies; 3) reducing government direct regulation; and 4) introducing the explicit deposit insurance scheme.